Jovian Capital Corp. reports that its subsidiary Accumulus Management Ltd. is currently involved with the Province of Manitoba Portfolio Allocation Notes, Series 1.

The notes are designed to help clients achieve income potential through quarterly distributions, with 100% principal protection provided by the Province of Manitoba (Moody’s rating of Aa2) if held to maturity.

The notes are a principal protected investment linked to a portfolio of 16 income trusts and stocks. They will pay quarterly coupons equal to 100% of the ordinary cash distributions declared on the underlying equities in the portfolio, as well as a final variable coupon payable at maturity, based on the overall price performance of the portfolio.

The note structure will provide 100% initial exposure to the equities at issuance, with the potential for 200% exposure in strong market conditions.

“We feel this Note will be well suited to those investors who have a primary investment objective of capital preservation with the potential for strong distributions and growth. We are very excited to be working with the Province of Manitoba and CIBC World Markets in connection with this product,” said Raj Lala, President of Jovian subsidiary Gibraltar Consulting Group, in a release.

The Province of Manitoba Portfolio Allocation Notes, Series 1 will be open for sale until September 23.